Stablecoin

Ethereum

DeFi

Bitcoin

<ul> 
 <li aria-level="1">Tron’s USDT transactions hit a record $587 billion in November, indicating a significant increase from October’s $489 billion.</li> 
 <li aria-level="1">Stablecoin activity boost linked to rising interest in Bitcoin and cryptocurrencies, enhancing Tron’s network utilization and TRX price.</li> 
</ul> 
In November, transactions of the USDT stablecoin on the Tron network surged to an unprecedented level, as reported by on-chain data provider CryptoQuant. The volume reached a record $587 billion for the month, significantly higher than the $424 billion in September and $489 billion in October.&nbsp; 
As <a href="https://www.ethnews.com/justin-suns-bold-claim-sends-trx-price-soaring-is-tron-the-new-xrp/">ETHNews has reported</a>, the growth of stablecoins is not only a response to market demand but also reflects broader adoption across networks, particularly the one led by Justin Sun, which has influenced the price of Tron (TRX).&nbsp; 
<figure id="attachment_120409" aria-describedby="caption-attachment-120409" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-120409" src="https://www.ethnews.com/wp-content/uploads/2024/12/USDT-Transfer-Volume-on-TRON-Reaches-All-Time-High-of-587.2B-Monthly.png" alt="USDT-Transfer-Volume-on-TRON-Reaches-All-Time-High-of-587.2B-Monthly" width="1285" height="723">
 <figcaption id="caption-attachment-120409" class="wp-caption-text">
 Source: Cryptoquant
 </figcaption>
</figure> 
Early December witnessed TRX hitting a new peak at $0.44, although it has since retracted, now trading around $0.27, marking a 12% decline over the past week. 
<div class="cryptoboxes" id="mcw-12515" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="TRX" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div> 
Tron’s <a href="https://www.ethnews.com/cryptocurrencies/tron/">network</a> has emerged as a dominant force in stablecoin transfers, especially for USDT issued by Tether. The network’s quick transaction times and low fees make it a preferred choice for traders needing to efficiently move funds across platforms.&nbsp; 
This operational efficiency has enabled Tron to secure 98% of the USDT transaction domain, overtaking Ethereum, which it competes with as the leading ecosystem for stablecoin activity, <a href="https://www.ethnews.com/justin-sun-unloads-119m-eth-as-ethereum-adds-7-79-billion-in-a-week-outpacing-solana-and-tron/">according to ETHNews</a>. 
Currently, Tron stands as the second-largest ecosystem in decentralized finance (DeFi), managing assets totaling $60.498 billion. Meanwhile, USDT remains the top stablecoin with a market cap of $203.392 billion.&nbsp; 
<figure id="attachment_120470" aria-describedby="caption-attachment-120470" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-120470" src="https://www.ethnews.com/wp-content/uploads/2024/12/Total-Stablecoins-Market-Cap.png" alt="Total Stablecoins Market Cap" width="1637" height="406">
 <figcaption id="caption-attachment-120470" class="wp-caption-text">
 Source: DefiLlamas
 </figcaption>
</figure> 
The increase in stablecoin transfers highlights their growing role in digital markets, acting as bridges between trading platforms, allowing users to leverage cryptocurrency volatility without exiting the crypto asset ecosystem. 
This trend has driven greater adoption of networks that offer swift and cost-effective solutions, like Tron and its native cryptocurrency, TRX. While Ethereum continues to play a significant role in the DeFi and stablecoin market, Tron has made considerable gains by providing more efficient transaction solutions.&nbsp; 
As <a href="https://www.ethnews.com/ethereum-sees-green-as-trons-justin-sun-hints-at-buying-52900-eth-whats-next/">ETHNews</a> has consistently reported, the evolving market of cryptocurrency transactions underscores the critical role of innovative network solutions in fostering market growth and enhancing user experience in the crypto financial sector. 
The post <a href="https://www.ethnews.com/tron-now-dominates-usdt-transactions-with-98-control-outperforming-ethereum-in-the-stablecoin-transfer-sector/">Tron Now Dominates USDT Transactions With 98% Control, Outperforming Ethereum In The Stablecoin Transfer Sector</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Tron Now Dominates USDT Transactions With 98% Control, Outperforming Ethereum In The Stablecoin Transfer Sector

ETHNews

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